In parallel to the deregulation of markets, there has been a trend towards large-scale mergers which ridicules dreams of increased competition.
Recent mega-mergers and acquisitions include
SBC Communications - Ameritech, $ 72,3 bn
Bell Atlantic - GTE, $ 71,3
AT&T - Media One, $ 63,1
AOL - Time Warner, $ 165 bn
MCI Worldcom - Spring, $ 129 bn
The total value of all major mergers since the beginnings of the 1990s has been 20 trillion Dollars, 2,5 times the size of the USA's GIP.
The AOL- Time Warner reflects a trend which can be observed everywhere: the convergence of the ICT and the content industries. This represents the ultimate advance in complete market domination, and a alarming threat to independent content.
"Is TIME going to write something negative about AOL? Will AOL be able to offer anything other than CNN sources? Is the Net becoming as silly and unbearable as television?"
(Detlev Borchers, journalist)
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General H. Norman Schwarzkopf (* 1934) followed in his father's footsteps at the United States Military Academy at West Point.
In 1965 he applied to join the troops in Vietnam. For the next 20 years Schwarzkopf worked on his career. As Commander in Chief of the U.S. Central Command, he led U.S. and allied forces in the Gulf War (Operations Desert Shield and Desert Storm). He retired from the Army in 1992 and wrote his autobiography.
For a picture see: